Olivo, 32, hit .269/.315/.449 with 14 home runs in 427 plate appearances for the Rockies this year. He caught 935 innings, throwing out 42% of attempted basestealers. Olivo previously played for the Mariners in parts of the '04 and '05 seasons after coming over from the White Sox in the Freddy Garcia trade. This is a nice contract for Olivo, who is represented by Martin Arburua. He's the fifth catcher to score a multiyear deal this winter.

The Rockies shipped Olivo to the Blue Jays in November, who declined his mutual option at the price of $500K and later offered him arbitration. They'll now get a supplementary draft pick for their troubles.